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Nobel raises full-year profit margin target, stays silent on sale
August 21, 2014 / 5:07 AM / 3 years ago

Nobel raises full-year profit margin target, stays silent on sale

ZURICH, Aug 21 (Reuters) - Nobel Biocare, the Swiss dental implant maker in talks with potential buyers about the sale of the company, raised its profit margin target for this year after net profit almost doubled in the second quarter.

The world’s second biggest dental implant maker made no reference in its results statement to the progress of talks with potential buyers about a sale which it confirmed at the end of July were at a “very early” stage.

The company reiterated its forecast to grow sales around 3-4 percent this year, excluding foreign currency fluctuations.

It now expects an improvement on its earnings before interest and tax (EBIT) margin excluding restructuring costs and exchange rate fluctuations of about 100 to 150 basis points per year, compared to a previous guidance for 100 basis points.

Sales in the second quarter fell 2.4 percent to 144.3 million euros ($191.1 million), generating net profit of 15.9 million euros compared to 8 million euros a year earlier.

Industry analysts, on average, had forecast sales of 148 million euros and profit of 13.4 million, according to a Reuters poll. (1 US dollar = 0.7551 euro) (Reporting by Caroline Copley)

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